FXOpen vs Xtrade 2024

FXOpen is not a publicly traded company, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXOpen is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and and regulated in the European Union via the MiFID passporting system.

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by one Tier-1 regulator (highly trusted), one Tier-2 regulator (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). Xtrade is authorised by the following Tier-1 regulator: in the European Union via the MiFID passporting system.

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.

To open a trading account with FXOpen, you'll need to make an initial minimum deposit of $100.

Xtrade requires a minimum deposit of $250 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both FXOpen and Xtrade offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that FXOpen offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that FXOpen holds 2 global Tier-1 licenses, while Xtrade holds 1. Xtrade holds 1 global Tier-2 licenses, while FXOpen holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FXOpen (76) earned a higher Trust Score than Xtrade (74).

To compare the trading platforms of both FXOpen and Xtrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXOpen offers a better experience. With research, Xtrade offers superior market research. Finally, we found Xtrade to provide better mobile trading apps.

Here’s what trading platforms are available at FXOpen:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

Here’s what trading platforms are available at Xtrade:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. FXOpen offers MetaTrader 4 (MT4), while Xtrade does not. Forex traders also appreciate the ability to engage in social copy trading. While FXOpen offers copy trading, Xtrade does not.

Xtrade provides traders 56 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. If you are interested in trading a full range of securities, Xtrade offers traders access to 482 tradeable symbols, while FXOpen offers access to 87 tradeable symbols; so Xtrade offers 395 more tradeable symbols than FXOpen.

We found in our testing that Xtrade offers a more diverse selection of investment options than FXOpen, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.